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and we'll go with steve forbes and rick unger and elizabeth mcdonald and victoria and steve and rich. >> what do you think? >> jobs are going to be destroid even if they don't go overseas. health care costs are goi up. obama care is increasing alert . insurers have to take all comers and that will put a strain on it and mandates, consumers may not want them and politicians say you must have them and insurance costs are going up and we the people will be losers. >>> and the hobby lobby face a fine 1. 5 million if they don't dohat the government said they have to do via the health care law. >> i was corrected. 1.3 million a day. that is the daily fine they have to pay. >> let's make an important distunction we are notuve for dinner bets. mipemine is open for the anybody who doesn't think they will get exempted. i think it is. they have been giving health care to the employees over in the charity for years. theirob ligation is not health care, but it is a religious problem and it is going to be dealt w. i hope that the corporions in the country will take a lesson and understand the impo
prices. we'll go in focusith steve bor bes and bill and morgan. is it paying off? >> no, it is 18 times that of nuclear energy. ronald reagan was right. thest thing to immortality is a government program. politicians are labeled with hot wind and we label the section gone with the wind. >> we have sending sib sidies in '92, has it been worth it. >> we are early inlet process. we have subsidized oil and coal and gas. we have done them from darn near a century. these don't look so bad. like it or not, the majority of americans believe that global warming is an issue. we nd to develop clear energy sources. fossil fuels may be a difficult problem. we are subsidizing thingings. it is cheaper to produce energy from natural gas. it is a subsidies. other than it is natural gas there. it is 63 cents compared to $53. that is not a pay off to me. >> i will have to disagree with rick. last time wind energy had any impact was in the century. we have moved in oil and natural gas. but let's get rid of subsidies and lethem sink or swim. wind energy will sink and we'l be better off. it is bhathe sector
in in with steve forbes and rich and elizabeth mcdonald and john tandy. is this proof that bailouts don't work? >> what it is proof, you shouldn't have the government in the business in the first place. that is how they got bloated. government guarantee and that is why they can pay these outrageous salaries. if private companies, they would be allowed to go out of business. no bailouts, let the markets work. let these guys, either liquidate them or privatize them. dave: top 90 employees at fannie and freddie, that is lot of money? >> i'm not going to support that kind of salary to anybody working in the government but i'm not sure it's indicative of a problem of the problem of bailouts. i have real issues with the direction that fannie and freddie have taken. you have half. mortgage debt under the control of these two organizations. had we let them go down the drain, anybody that owns a home would not have been happy with the financial result of letting these things go down. bailout may have been ugly but unfortunately it was absolutely necessary. >> the bailout is still ongoing. these organiz
. dagen: thank you very much. we want to bring in steve moore to ask him quickly if there's enough time to get a deal done. he's senior economics writer at the "wall street journal," author of "who is the fairest of them all" and steve now that i introduced you, we're going to have to go to the new york stock exchange to hear wait till the sun shines which the traders sing every time this time of year. i'm going to pose the question to you. apologies if i need to interrupt you. is there enough time to get a deal done? >> yeah, there is. peter is exactly right that the modus operandi and capitol hill and the white house for the last 30 years is every time they are up against the deadline, they are like the high schoolkid who has to finish thesis paper. they wait till the last minute. so dagen, i'm making a prediction that on december 31st, you and i will probably be talking and i think they will be furiously negotiating and i think they probably wiil reach a deal. let me make one other point if i may, let's say it doesn't happen on december 31st, it's going to happen in january. it is no
than 13% for the week. it broke above its moving average. steve cullen, is he being punished for his success. illegal insider trading ran rampant inside his giant hedge fund. charlie gasparino has the latest. charlie: let me get you and amazing statistic. they returned 25.5% after expenses since 1996. warren buffett, berkshire hathaway, 8.64%. steve cohen does it with a lot of volatility. that is why i am telling you the feds are after him. here is what i know about this investigation. what sources are telling us. they believe you cannot get that type of consistent success, the notion that every year, basically, posting game, posting gains within not massive volatility. 50%. cheryl: you are very clever and breaking the law. charlie: they do not believe you can do that without insider trading. this is a mindset that pervades each one of these of the sec enforcement chief to the fbi people working on the cases to the justice department. they match up returns of these various guys. they say look at roche, look at how he did this and look at steve cohen. they believe it is just mathemati
, china, emerging market that we have been buying the last couple of months. liz: chin steve has a china plae don't want to miss. 30 billion in assets under management. he is working his money, trust us. the closing belllin 50 minutes. a fall off the fiscal cliff will derail the programs helping the hosing recover. for the homebuilders worried? toll brothers is the 800-pound gorilla, they would know. a fox business exclusive with dogeared leaflets which tell you if the recovery in housing is here to stay and it matters to a whole host of stocks and what the fiscal fall could do to his business. only here on fbn. and we n save you 10% on ground shipping over the ups store. look this isn't my first christmas. these deals all seem great at the time... but later... [ shirt ] merry christmas, everybody! not so much. ho ho ho! this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground spping at fedex office. to the number 1 club in the world. the potential of manchester united unlocked. nyse euronext. unlockg the world's potential. liz: investors continue to
the fiscal cliff and kick the can down the road, that's going to happen anyway. >> steve, no deal, bad deal? i kind of feel like i'm playing poker. what do you think? >> i can't believe it, but i agree with jim. the most deficit reduction is gog toome from no deal. and that's what we need. that's what this economy needs, the biggest threat to economic growth, if the deficit and the debt, 4 trillion, everybody talks about it as some sort of grand bargain. it's barely a start. this isn't a fiscal cliff, it's a fisca bunny hill, let's slide down it. >> if we slide down, jonas, in the first week, people are going to open up the paycheck and see less money there. i don't think that people understandhat at this point. >> people get used to tax cs, that's the problem. shoort-term expiring tax cuts, including the payroll tax cut. you know, it's not the best way to solve a problem, but th cliff is the result of not coming up with deals and they're not going to come up with battery deal, if it's negotiated it's nothe ideal way to solve it outfter deficit. we'd like t gradually raise taxes and cut spe
panel. kimberly fox, i am peer july wealth management. scott martin, united advisors and steve hayes from the "weekl standard." you guys are still at work. everybody in washington gave up and went home. we're all here. i don't know, kimberly, what do you make of what happened today? >> you know, i don't know. they can't play fair and they can't play nicely in the sand backs, make them go home and rethink it and come back and be willing to work. life is about a plan b. if plan b doesn't work you better have a plan-cor plan d. melissa: scott, i'm surprised the markets didn't fall more. are they still holding out hope that these chuckle heads as called earlier today by something else will get something done? now it seems we're should be preparing the swan dive to go over the news call cliff? >> chuckle heads is putting it nicely, melissa. it was ahin tde. there wasn't a lot of people participating in the market move. it is not surprising when everybody sold yet. that probably comes next week. here is the interesting thing. i'm kind of surprise that we're surprised nothing got done. year
. they desperately want him to cave basically. in an effort to build the case against his old boss, steve cohen, and, instead, he's cooperating with cohen. is this a full-out cooperation? >> remember what we reported yesterday? they are paying for the attorney. we don't know if there's reasons for that or possibly an employment agreement that covers even employees fired two years ago for poor performance, and charged with something on the job, charged with insider trading, faces 20 years in jail for actions he did while he was at sac capital, but this is a nuance, that's more than a nuance. here's what's going on. in addition to paying for that attorney, there is an agreement between the capital and the attorney charles stillman. what's this mean? this is interesting. what it does is that it means that any time there's a document request from the feds, goes what, cohen knows about it. any time, you know, that the feds bring in martoma, want to talk about him again, cohen knows about it. his attorneys know that if matthew does, indeed, flip, he's got the playbook of the government against him. this i
the heat of the sun in hawaii going to the heat in washington. steve forbes will be coming up later in the hour. shibani: we will tell you what drove the markets today with today's data down load. stocks gaining momentum in the last hour of trading crawling back from triple digit losses down about 150 points following reports that the house will return to washington on sunday, but that late rally wasn't enough to lift stocks into positive territory, with all three major indices closing lower for the fourth day in a row. materials, financials, amongst the day's top worst performing sectors i should say. new home sales surging to strongest level in more than two years. sales jumping 4.4% from october to an annual rate of 377,000, more good signs that that housing sector much needed to improve the rest of the economy is finally getting a boost. and the number of americans filing new applications for unemployment aid falling to its lowest level in nearly four and a half years. initial claims dropping 12,000 to a seasonally adjusted 350,000 the week prior was revised up by a thousand. da
for retailers. with me now, the wall street journal's steve more. spell it out. what -- and i know you monitor these sales numbers by the minute. what affect so far? >> the fallen angels in connecticut will move the area, the country, the world to more compassion, caring, working, harder to help each other. it will be like a september september 11th effect, eggs and much more profound. so people we will shift from conspicuous consumption to giving more to churches and synagogues and spiritual institutions and give more to communities instead of shoppers shopping for their own homes, there will be giving the money to habitat for humanity. instead of shopping for themselves, they will be giving to the institutions that help the communities that are so broke and underfunded. neil: have you seen evidence of that, reported chips? >> right after hurricane sandy when we were all thanksgiving day and night working our way through wal-mart's across the country. people were buying one big gift, but for somebody else. not really shopping for themselves. in their religious institutions over the weekend. p
and steve moore from the "wall street journal" steve, seems like you are the guy that likes our ghost buster, fed buster guy. >> i was shocked by the decision. is this qe inifiti we're on right now? melissa: i don't know. >> we've had such a huge deluge of liquidity into the market. and the fed, a lot of people know this that the fed already owns about a trillion dollars worth of federal 30-year treasury securities on its book and it will now purchase 40 billion more a month. that is fancy way of saying what we're doing right now, melissa, we're monetizing our debt. melissa: yeah. >> treasury department is issuing the debt and federal reserve is purchasing the debt and purchases that debt by printing money. melissa: nariman, a lot of people expected before the announcement today they would say they're backing off. instead they said they will target the unemployment rate, you know as if this would give them license to go on morph longer. were you surprised and do you think it's a good idea? do you think steve is right that we're just monetizing debt? >> let's start off with, no we were not su
. what do you make of it. >> martoma just made the biggest trade of his life. he chose steve cohen. here is the deal that they have. steve cohen is paying the legal fees. that could be millions. he gets a copy of the government playbook. they will work and share information together. rather than flipping on steve cohen, he has decided to work with him and he is betting that the high-priced lawyers will beat the feds, as they usually do. adam: is this kind of like a conflict of interest. >> they say we have the same interests and beating the government and saying this was not insider-trading. the government also flipped this doctor who told martoma about the trials. charlie: this is all about martoma's trading. and passing that information to steve cohen. we know that he received that information. we do not know how martoma characterized the information. we do know that steve cohen received it and traded up on it as well. >> $270 million based on that information. it was not taped. it is what they are going to say occurred during that phone call. you will hear a different spin on that pho
. steve hayes, senior writer with the "weekly standard" and fox news contributor. jeffrey cleveland senior economist. and doug cote, chief market strategist with ing investment management. i will start with you, sir, doing, sure looks like investors believe we'll get a deal. what do you think? >> i don't think it matters. really what i'm focused on i know what the budget control act of 2011 is. let's call it what it is. it is a loss. why will there be tinkering in the last few days? as a strategist i will not be able to discount what they're doing. i think they just make it worse. i know what i'm getting. they're balanced on increasing taxes. i don't like increasing taxes. i like pro-growth economics but we need to cut spending. right now the law does it. i think go over the cliff. we know exactly what is going on. i'm concerned about a lot more things around the globe, particularly corporate earnings than i am the fiscal cliff. adam: all right. jeffrey cleveland, you're an economist, which is worse, raising taxes doing austerity all at once? what you do i this? >> i think the biggest prob
on the deal, we're joined by virgin atlantic ceo steve ridgeway. steve, welcome to the program, thank you for coming on. >> hello, good afternoon. melissa: how will customers and shareholders know the difference or notice the difference now that we are seeing this portion of the company over to delta, what will feel different? >> i think we are a very strong airline. we started the heritage. delta likewise. delta has a huge presence in the u.s. but putting operations and schedules together, we have to get a deal approved which is obviously delta buying singapore's stake. and then we would create a joint venture across the north atlantic with antitrust abuse. we can coordinate our schedules and make sure we can bring together a bigger network for our customers and potential customers to fly on. it is very positive news with two good airlines coming together. really offering more choices to consumers. melissa: what do you make in choice? how dull the pain 360 million. quite a difference, what do you make of that? >> i think yes, it certainly is. it is the reality of the world we live in. th
: and we're also going to be talking with the ceo and president of choice hotels, this is steve joyce. steve is going to be talking about their expansion right here in the u.s. including a three-star, upscale hotel. they had been focusing on the lower scale hotels. will that hurt their brand, or might it increase it? we'll be asking him. liz: first, what drove the markets in today's data download. stocks closing higher after struggling for direction early on with the dow crossing the flat line 25 times. all three major indices did post gains. technology had to be, right? was one of the best performers along with consumer discretionary. today's top performing sectors, health care and utilities, well, they did lag. the number of americans filing new applications for unemployment benefits falling for a third straight week as we remind you, thises the number you want to see fall. hurricane sandy's impact continues to slowly but surely subside. we had weekly jobless claims dropping by 25,000 last week to a seasonally-adjusted 370,000. the week's prior total was revised upward to 395,000 fr
a flat tax. remember that? one of the business leaders in attendance was mr. steve forbes, ceo and chairman of forbes media joins us straight ahead to discuss his plan. liz: prolonged drought? still going on in certain places. look at the screen. pictures that may force the mississippi river to shut down, commerce, billions worth of cargo at risk, not shipping right now, grains you eat to oil and coal you use. we'll take you there live. ♪ ♪ [ male announcer ] this is amy. amy lik invest in the market. s also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobileradi. so she's always ready to ke action, matter how wily.. oweird... or wonderfully the market's behaving... which isn't roct sciee. it's just common sense. from td ameritrade. you know how painful heartburn can b for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms protective barrierhat helps block stomach acid from splashing u relieving the pain quickly. try fast, long lasting gaviscon®. mayb
thing was going to happen when we got the tv and we got steve jobs and mark zuckerburg. >> but excessive tv use is not good for the brain. wayne got it right. the internet is it important professionally and personally . all kinds of reans it is it the most important since the gut knowburg printing press. it reduces us to sitting down around the dinner table . we spend hours and hours on facebook. there is it a tendency to come a zombie and get in isolation iose . >> and in the end of the day. john, do we have that kind much an attention span. >> this is not rocket science. we are making trig nomety out of arethetic. >> take away the cell phones and computers f. it is not internet its it something else. it helps them with learning. >> julian, thank you for being with us. >> coming up. >> the stuff that will pop >> the stuff that will pop after the ball drops and get [beep] [indistinct chatter] [kids talking at once] [speaking foreign language] [heart beating] [heartbeat continues] [faint singing] [heartbeat, music playing louder] ♪ i'm feeling better since you know me ♪ ♪ i was a lo
nailing steve cohen? charlie: i do not think people are focused on the fiscal cliff. they will not be focused until you see the market sell off. the market believes there will be a deal. until the market trade-off -- adam: we have a guest who will be talking about that a little later on as we get closer to the end of the year. the investigation is still underway. charlie: when you see the market trade-off you watch people freak out. interesting thing about steve cohen, there is no more remarkable trader out there than this guy. say what you want to about him. if you look at his returns, i think he started in 92, one down here. he is up this year, so far, 10%. that is why the feds are after him. i have been speaking to a lot of people with the fpi. long-term returns, consistent and less volatility. what they do, generally, they look at returns, pretty much steady returns, not a lot of volatility. you look at steve collins return, one down year. you look at warren buffett. he destroys profits over that period of time. buffett has more volatility and returns. steve cohe
is it that steve cohen is pain the legal fees of a four-month trader. investigators are trying to get the slip against his old boss. here is charlie with the very latest. there is two schools hit. number one as companies often paid legal expenses. we should point out that the former hedge fund trader that is at the center of the latest allegation of insider-trading left about two years ago. he is two years out of it. steve cohen is likely to have some sort of cooperation agreement. they share documents. they share strategy. if and when he ever cooperates, and we do know that we want him to cooperate, he still says no. if he ever does cut that deal, he is facing 20 years in jail. if he wants to avoid 20 years, he will know exactly what to say to prepare his defense. the government would only give it to him if he could basically tell him about what steve cohen new about the insider trades that he was accused of. in the indictment, it says that bythat -- he traded those stocks based on insider information. he was not supposed to do that. then he told steve cohen something that caused steve cohen
and roll call. let's get a sense where you think this is going, steve. you don't like where it's going? >> no. you know, look, we need a deal. we're sitting on a price missing here with the whole world watching, the markets are expecting a deal, the credit rating agencies expecting a deal, and if we don't have a balanced deal including spending cuts and a revenue race, even if it's a small deal with a process for the future, you're going to see markets react, not only in this country, but around the world, and you're going to see the credit rating agencies act, and if that happens, our interest rates are going to go up. the cost of our debt's going to go up, and it's going to exas effort -- exacerbate the problem spinning out of control. it's in a point in time, and we're playing politics, when, in fact, the entire world, he business community, everybody around washington is saying, look, guys, make some progress here. neil: what worries me now is when the next shoe drops. democrats, largely 80 congressman did today, following the congressional black caucus and others like schumer said
altman, former deputy treasury secretary under president bill clinton. die an further got roth. and steve hays is a senior righter at "the weekly standard" and fox news contributor. welcome to all of you. roger, you think this is the real deal? >> well, i think the chances for an agreement, a serious agreement, a major agreement are impositiving as we see these additional details. this is taking the pattern, familiar pattern that one often sees in washington in terms of grudging progress. the two sides each laid out aggressive positions initially from the point of view what they want and now we're seeing some hesitating progress but progress towards a middle ground. and it's a difficult thing. the politics of this are very hard. but i think the chances for an agreement are improving. i think there will be agreement and likely to be before the deadline but we don't know that yet. melissa: we don't know that. diana, still seems like there a lot of distance in the middle between the two sides at this point? >> there really does and dana has gone very far in that tax increase, that tax rate i
or create shareholder value? coming up. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and bei ready, no matterhat happens, which isn't rocket science. it's just common sense, from td ameritrade. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese..... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. you know how painful heartburn can be. for fast, long lasting relief, e doctor recommended gaviscon®. only gaviscon® forms a prottive barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they sh
republican controlled house ever to raise taxes? business mogul steve forbes will join me in a fox business exclusive to break it all down. >>> the dire warning for you and all of your savings today. hackers are planning to clean out your bank account. the former deputy director of the national security agency is here with all the details so you can hang on to your cash. even when they say it's not, it is always about money. melissa: all right. first let's take a look at the day's market headlines. another day of gains on wall street. stocks soared for the second day in a row. the dow closed up 115 points and all that illusion that washington is getting its act together but progress on the fiscal cliff isn't driving everything higher. gold hit its lowest level in since late august that is confidence there. investors flee from the precious metal as a safe haven appeal fades. gold is hovering $1670 an ounce. >>> shares of blackberry maker research in motion slipping after being hit with a downgrade by toronto based national bank. rim shares closing down almost 1 1/2% today. >>> all right, you
. how you doing? my name is steve. my family's lived in this neighborhood for years. recently, things got so tight we had to go to our local food bank for help. i lost a lot of sleep worrying about what the neighbors might think. that is, until i saw them there, too. how'd i do, steve? a little stiff. you could have done a little better. what? come on. you know, i have an academy award. yeah, but not for playing me. announcer: play a role in ending hunger. visit feedingamerica.org/hunger and find your local food bank. $82 bi lou: foreign buyers are helping to boost our housing msarket. those buyers accounted for billn $82 billion in home sales over the past year. 9 billion of those dollarschines coming from th chinese. t second only to those canadians, as the largest one homebuyers in presidenntry. the io and president ofao citimortgage, he is joining us the ov let's start with the overaller robustness come to power of thit recovery. is it too strong of a language to join these concepts?18 out o >> the housing is recovering on a sustained basis. eighteen out of 20 top cities are now s
] this is steve. he loves risk. but whether he's climbing everest, scuba ding the great rrier reef with sharks, or jumping into the marke he goes with people he trus, which ishy he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what haens, which isn't rocketcience. it's just common sense, from td ameritrade. well, having a ton olocations doesn't hurt. a santa to boot! [ chuckles ] rigight, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. and waiting in line. i don't have to leave my desk and get upnd go to the post office anymore. [ male announcer ] with stamps.com, you can print real u.s. stage for all your letters and packages. it gives you the exact amount of postage youeed the instant you ne it. can you print only stas? no. first class. priority mai certified. international. and the mailman picks it up. i don't leave the shop anymore. [ male announcer ] get a 4-week trial plus $100 in extras including
,000 a year and employs ten people just like steve jobs, warren buffett and-- >> and we quibble? >> let me finish. we can quibble about what the right amount is, whether it's $250,000 or whether it's 500,000, what the president is trying to do. >> and for a while, charles, help me with this part of it. whatever your views on taxes, and i think it's happening and ben stein's earlier point, it's there. and deeply disturbing, where is it, not only there's a lack of result to slowing what is the growth to spend because there's no cutting going on. but we're going to-- and that's what we're going to do and this is the effort and the measure you use toinally get serious. this is not serious. >> warren buffett laid it out on monday in that new york times op-ed and he said in an ideal world, we would still have deficit spending ery single year and the president laid it out more than once and in an ideal world, we're still-- we're not talking about cutting debt. we're talking about increasin it at a slower rate and then later on, the idea of 50 billion in stimulus, oh, by the way, let's remove the
: steve jobs told president obama that those jobs were not coming back. charles: somehow the administration going after profit, you know, whatever it is, you wanted or public opinion, now if you do not start to do this stuff, we will go out and take it. caterpillar is one company to watch. their ceo has been on top of this. he has been very defensive about the fact they are still creating jobs here and abroad. apple, by the way, 60% of business outside of this country. dagen: it is not just about price, it is about scalability and adaptability of the workforces in this nation. charles: there is no dow about it. natural gas gives us an amazing advantage. wages have gone up dramatically in china. we will benefit from that as well. be careful what you ask for. do we really want a whole bunch of four dollars jobs in america, the answer is, no. connell: thank you, charles. great stuff, as always. the irs wants back taxes from amazon. dagen: no shame. one of the most popular places to do your holiday shopping. that is exactly the video we picked that we are going to tell you ab
that steve jobs would never intentionally do. they are doing all right with selling, but they have to sustain the sales next year. it will be increasingly difficult. apple is throwing out products fairly rapidly. number tim cook came out compact. his training is much like hp and dell. he was never a steve jobs clone. unfortunately, apple was designed to run under steve jobs. david: steve jobs is gone, tim cook is in. does apple ever recover the historic price levels that we saw for their stock just a few months ago? >> it seems, i mean, if you change enough of a company that has been trading very well that has been doing excellent, making almost no mistakes, it is difficult, the odds are against it. it is always possible, but the odds are against it. the apple today is not the apple that was trading at those highs. david: they are telling me i have to cut short. no po, flop or success? will this phone help them? >> i love the 920. android is looking weak. apple is looking a little bit weaker. those two companies will try to come back next year. the 920 is sold very well. it will be a race to
. another thing that is lingering, no longer being able to ride the steve jobs coattails. no longer getting the benefit of the dow. a lot of people questioning where to go from here. the big thing over the last day and a half, the stock is breaking a key support. connell: it is all technical. charles: if dagen has a stock at 570, everyone else and dagen cells, everyone goes to 550. you sort of get this domino affect. it no longer has to do with fundamentals. technicians are saying we are at that point right now. dagen: one thing about the stock, charles. tim cook is no longer in the glow of the steve jobs era. again, that was a major -- charles: he still would have had enough credit among wall street. every apple's earnings report was not great. it was a component issue. they did not have enough supply. they never put the blame on steve jobs. he has that credibility among wall street. the first time at bat, he struck out. you know what people are saying. connell: it has been such a great performer as a stock for so long. how do you personally look at it? charles: i have it in my retirement
with more is steve ellis, vice president of taxpayers for common sense. appreciate you being with us in new york city tonight. for instance some of the spending in this pork-ladened bill would provide one millio dollars for trees in cemeteries. $4 million for sand dunes at kennedy space center. not beaches up here where they need dunes. $2 million for a new roof at the smithsoni is this bill really a relief bill or pork bill for mem, about of the congress? >> what you find, adam, basically they have caps on overall spending when. they do the emergency supply meant metals all of sudden the caps are irrelevant. all of sudden it is free cash. it is free-for-all for lawmakers trying to get money for the pet projects. you may get the smithsonian roofs may have been damaged by sandy but atime of budget crunch we have to prioritize and only do the most important and critical things. adam: isn't this thing turn voters against members of coress? we have cars for the fbi but office equipment. i don't reca superstorm sandy taking out washington, d.c. or the fbi headquarters? >> they may have had facil
want to watch it coming up. how you doing? my name is steve. my family's lived in this neighborhood for years. recently, things got so tight we had to go to our local food bank for help. i lost a lot of sleep worrying about what the neighbors might think. that is, until i saw them there, too. how'd i do, steve? a little stiff. you could have done a little better. what? come on. you know, i have an academy award. yeah, but not for playing me. announcer: play a role in ending hunger. visit feedingamerica.org/hunger and find your local food b ban. david: take a look at this quote about romney. quote he wanted to be president less than anyone i've met in my life. he had no desire to run. now that is from his son, tagg romney about his father. he said that governor romney had to be persuaded to run by his wife and tagg. so company, what do you think about this? do you believe it? adam: if tagg wants back in on the inheritance -- [laughter] shibani: what do you think? if that's the case, then everything worked out as it should have in the first place. well, i would beg that his son is pro
bank. your money needs an ally. how you doing? my name is steve. my family's lived in this neighborhood for years. recently, things got so tight we had to go to our local food bank for help. i lost a lot of sleep worrying about what the neighbors might think. that is, until i saw them there, too. how'd i do, steve? a little stiff. you could have done a little better. what? come on. you know, i have an academy award. yeah, but not for playing me. announcer: play a role in ending hunger. visit feedingamerica.org/hunger and fd your local food bank. gerri: it is called the shadowdo banking system, hedge fund, money market fund, any lender typically not aw st bank and bld by many for the global financial crisis. they're bigger than ever at $67 trillion in termshe of asses according to an report from the financial stabilityrd board. i asked editor-in-chief ofnanc american banker about the risks it poses to the total financial system. >> essays on the financial to system, these were people who were in the business of lendinge money, of investing that are not regulated like a lot of banks so no
the market panel, steve sax, shares head of capital markets and john buckingham commack asset management chief investment officer. good to see you both. 2012 has been a lot better than anybody thought it would be 12 months ago. is there any chance that 2013 for all the naysayers could turn out to be a good year? >> that is precisely it. there are a lot of naysayers and pessimism. the fiscal cliff is a big issue and we have to get through it but once you resolve that, federal reserve is forecasting economic growth in 2.3 to 3% range next year. that is a favorable environment for equities especially given where we are in the interest rate cycle given the strength of corporate balance sheets and corporate profits. i think investors should be taking advantage of any sell-offs like we are selling today by adding to their equity exposure. liz: excellent point. if you look at some of the names that pullback today that have done pretty well, for example gap stores, a lot of these names pulling back in the retail space simply because the broader market was lower. is this the day stocks are on sal
equipment. bringing on new employees and expanding our business. adam: steve hayes, let me ask you and pick up where kim was just speaking the national federation of independent businesses estimate 75% of small business, which we know is the powerhouse, the dynamo of job creation in this country, 75% count their taxes the way that it is called the pass-through or the flow-through. essentially they're the people who get caught by the income tax increase. so this deal that the republicans have agreed to, have they sold out small business or is this the best they can get to protect small business? >> well, look, the deal is going to be a bad deal no matter what happens. it was always going to be a bad deal no matter what happens because the circumstances that led to the creation of the super-committee and failure and sequester. all this was going to be bad from the beginning but i think the idea of raising taxes right now, i'm not in favor of raising taxes anytime, raising taxes now when the economy is failing to sort of get off the ground is a terrible idea. of course it is going to hurt smal
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